Japan may store Abu Dhabi oil

Abu Dhabi is in talks to store its oil in Japan, the biggest importer of the emirate

It could also provide the UAE and Japan with an insurance policy against short-term disruptions to shipping through the Strait of Hormuz.

The project has been under discussion since March and is expected to start this autumn, with stocks of oil from ADNOC being stored in a reserve base of Nippon Oil in Kagoshima, southern Japan, the Japanese trade ministry said.

Japan would have the pre-emptive right to buy the crude during times of emergency, it added.

The National